Rob Moore argues that buying a $10,000 Rolex Kermit watch is smarter than keeping cash in savings. The watch boosts confidence, attracts opportunities, stops you from wasting money on small purchases, and keeps you hungry to earn more. Grant Cardone liquidates his cash yearly to stay financially driven.
Bear with me. It's better to have 10 grand in a Rolex Kermit than in a savings account. Number 1, you wear a Rolex, you feel good, you know, you feel sharp. Number 2 is people will notice it. It might open a few doors. People do say to me that certain watches or certain cars open doors. Number 3, you're not going to go and spend it on something stupid because a lot of people spend their money on something stupid. Number 4, if your bank's empty, you're going to go and make more money. So my friend Grant Cardone, he told me that at the start of every year he gets rid of all of his cash. He doesn't waste it, he invests it because he wants to be hungry every year. Hungrier you are, the more you're going to go search for food.